BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lubricating oil is one type of inventory that is held in organisations.
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True
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False
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None of the above
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None of the above
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Explanation:
Detailed explanation-1: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.
Detailed explanation-2: -The four types of inventory most commonly used are Raw Materials, Work-In-Process (WIP), Finished Goods, and Maintenance, Repair, and Overhaul (MRO).
Detailed explanation-3: -What are the 4 types of inventory? The four types of inventory are raw materials, work-in-progress (WIP), finished goods, and maintenance, repair, and overhaul (MRO) inventory.
Detailed explanation-4: -Manufacturers deal with three types of inventory. They are raw materials (which are waiting to be worked on), work-in-progress (which are being worked on), and finished goods (which are ready for shipping).
There is 1 question to complete.